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CHEVRON CHAIRMAN URGES SUPPORT FOR NAFTA; PRAISES CALIFORNIA LAWMAKERS FOR RECENT ACTIONS

 SAN FRANCISCO, Oct. 15 /PRNewswire/ -- The business community in California and throughout the United States must step forward and take a lead role in mobilizing support for the proposed North American Free Trade Agreement, Ken Derr, chairman and chief executive officer of Chevron Corporation ((NYSE: CHV), stated in a speech yesterday.
 "NAFTA will create jobs on both sides of the border by acting as a stimulus to trade and therefore to economic growth," Derr said in remarks to the California Hispanic Chamber of Commerce at a meeting in Palm Springs, Calif.
 While the free trade agreement would lower tariffs and trade barriers among the United States, Canada and Mexico, opponents have focused their criticism on concerns that U.S. companies would move to Mexico to take advantage of cheaper labor and less regulation.
 "The plain fact is that any company wanting to do this has been free to do so all along," Derr said. "There is no penalty now on a company that chooses to relocate. U.S. tariffs on goods made in Mexico are already low enough to be no barrier."
 NAFTA will help to strengthen Mexico's economy, which, in turn, will help both Canada and the United States. "A rising standard of living in Mexico will promote economic growth throughout the region. One result will be more jobs for Californians to manufacture goods for a growing Mexican economy."
 Derr emphasized that economic growth in Mexico also will help that country to better address environmental issues. "A strong economy is a necessary precursor to environmental improvement. That's true all over the world and it's a truth the professional environmentalists really need to absorb."
 In the same speech, Derr focused on California's continuing economic problems, particularly the critical issue of job losses. But he also praised California lawmakers for recent actions that will ease burdens on business and help to turn around this state's troubled economy. He cited passage of Senate Bill 671, which he called a "multi-symptom relief pill." By creating tax credits, sales tax exemptions and modifying the "notorious" unitary tax on multinational companies operating in California, SB 671 should improve our business climate and keep foreign governments from retaliating against California firms."
 -0- 10/15/93
 /CONTACT: Terry Busch of Chevron Corp., 415-894-6718/
 (CHV)


CO: Chevron ST: California IN: OIL CHM SU:

LH -- SF010 -- 2677 10/15/93 11:00 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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